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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: nutxspirit who wrote (9475)	11/19/2001 11:36:47 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

NEM is at triple oversold levels. Can it go lower? Absolutely. But the reversal happens so quick you end up chasing at a higher price. Same theory with ABX and PDG which are well into double oversold territory. XAU closed at XAU 49.46 right on triple oversold levels and down for the sixth day in a row. While I am looking for a test down to XAU 48.20... it may or may not get there. I would rather be one or two days too early than one or two days too late on the reversal... Lastly, the all gold johannesburg index hit a new 52 week high on Friday closing at JSE 1,390.80 and is diverting in a major way from the XAU. Today the JSE closed down a paltry 7 points to JSE 1,383.70. XAU is gona scream higher when it reverses. Best Regards, J.T.